Wednesday, October 10, 2007

Barclays in commodity alliance with China bank

Barclays has set up a commodities partnership with China Development Bank [CHDB.UL], to establish a presence in China's booming commodities and energy markets.

The 5-year alliance, announced on Wednesday, will initially focus on energy, metals and also carbon emissions, where Barclays is already a big player.

The agreement gives Barclays Capital, the investment bank arm of Barclays, scope to grow its commodity business in China, which is already the world's biggest copper consumer and second biggest consumer of oil....MORE